U.K. stocks rise after BOE report; BHP drops

LONDON (MarketWatch) — U.K.’s benchmark stock index rose on Wednesday after a report showed more members from the Bank of England supported an increase in asset purchases, while BHP Billiton added pressure after a lackluster earnings report.

The FTSE 100 index
UKX, +0.41%
gained 0.3% to close at 6,395.37, adding to a 1% advance from Tuesday, when the index closed at the highest level since January 2008.

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Minutes from the Bank of England’s latest policy meeting show that 3 members voted in favor of increasing the bank’s asset-purchase program.

On an upbeat note, the broader U.K. market ticked higher after minutes from the Bank of England’s latest policy meeting showed the members of the Monetary Policy Committee voted 6-3 to leave the central bank’s asset-purchase program unchanged at 375 billion pounds ($579 billion).

Bank of England Gov. Mervyn King and MPC members David Miles and Paul Fisher dissented, calling for a £25 billion increase. At the January meeting 8 members voted in favor of keeping the program unchanged. See: Bank of England voted 6-3 to leave QE on hold

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